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Published on 12/02/2019 3:49:12 PM | Source: Choice Broking Pvt Ltd

Buy Gruh Finance Limited For Target Rs.270 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #NBFC #Gruh Finance Ltd #Trading Report #Choice Broking

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* On a daily chart, the stock has given a breakout of reaction high of “Saucer Bottom” formation which suggests bulls may continue to pull the counter.

* Furthermore, the stock has confirmed Three White Soldier formation which is a continuation formation and signals for further uptrend in the counter.

* On a weekly scale, the stock has taken support and bounced back from its 200 Weekly Simple Moving Average which shows an upside rally in the counter.

* A daily momentum indicator RSI reading is at 53.39 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions.

 

Recommendation

Buy Gruh Finance Limited @ 248.00 Stop Loss 236.50 Target 270.00

 


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